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Fibonacci Retracements Analysis 03.02.2015 (EUR/USD, AUD/USD)

Analysis for February 3rd, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from correctional retracement 50%, Eurodollar is trying to resume moving downwards. Possibly, the price may reach a new local minimum in the nearest future. The main target is the group of fibo-levels near 1.1000.

At the H1 chart, the predicted target of this correction was confirmed by local retracements. Probably, in the nearest future, the current short-term correction may finish and the pair will continue moving towards its predicted targets.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has broken its target level and the take profit on my sell order worked. Possibly, in the nearest future the pair may continue falling towards the next group of fibo-levels at 0.7520.

At the H1 chart, the predicted targets are confirmed by local retracements. If later the price rebounds from this area, the pair may start a more serious correction. Right now, I’m staying out of the market.

RoboForex Analytical Department

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